ASIC is launching legal action over allegedly misleading advertising around interest-free repayments. 9News
finance company Latitude over allegedly misleading advertising around interest-free repayments.
The ads did not disclose that consumers could only use the interest-free payment method if they applied for and used a Latitude GO Mastercard, the financial watchdog alleges.Retail giant Harvey Norman is being sued by financial watchdog ASIC over alleged misleading adverts. Consumers were not provided with the "full picture" of the costs, ASIC deputy chair Sarah Court said.
"These credit cards, ASIC alleges, attracted substantial fees over the course of the 60 month payment term, and exposed consumers to the risks of incurring further debts and charges, as well as potentially affecting their credit rating."ASIC Deputy Chair Sarah Court said Harvey Norman and Latitude allegedly failed to provide consumers with the full costs of interest free purchases.
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